Versor Investments LP Decreases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Versor Investments LP reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 66.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,181 shares of the cryptocurrency exchange’s stock after selling 2,326 shares during the period. Versor Investments LP’s holdings in Coinbase Global were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of COIN. Crewe Advisors LLC grew its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Lynx Investment Advisory bought a new stake in Coinbase Global during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc boosted its holdings in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the period. ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the 3rd quarter worth $32,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Coinbase Global in the second quarter valued at about $33,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 18.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,822 shares of company stock valued at $30,921,194. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $305.85 on Friday. The firm has a market capitalization of $76.57 billion, a PE ratio of 52.19 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day moving average is $198.72 and its two-hundred day moving average is $211.89. Coinbase Global, Inc. has a 1 year low of $94.45 and a 1 year high of $334.86.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. Research analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COIN shares. Barclays raised their price objective on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Piper Sandler restated a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and increased their price target for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Needham & Company LLC boosted their price objective on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Compass Point decreased their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.